2012 Demographic Guide for Lakeland, Florida

City of Lakeland D E M O G R A P H I C G U I D E 2 0 12

POPULATION • WORKFORCE DEVELOPMENT • INDUSTRY SECTORS MAJOR EMPLOYERS • WAGES & INCOME • TAXES • EDUCATION • HOUSING ECONOMIC INCENTIVES & REDEVELOPMENT • CONSTRUCTION & DEVELOPMENT

Community Development

Built upon historic character, philanthropy and volunteerism, Lakeland offers its residents, businesses and visitors a true sense of place. Incorporated in 1885, Lakeland quickly became one of the premier cities in Florida. From the inaugural railroad service in the mid-1890's to being one of the first cities in Florida to have electricity, Lakeland has always been a hub of innovation and progressive ideas. Today, the City continues to thrive as population and business expansions are attracted to this area, the geographic center of Florida. Lakeland’s economic base consists of warehouse, transportation and distribution, education, health care, manufacturing and retail.

Lakeland has received the distinction of being on Money Magazine’s “Best Place to Live in America” list. In addition, Lakeland is home to Publix Supermarkets, Florida Southern College, which hosts the largest one-site collection of Frank Lloyd Wright architecture, and is the winter home to the Detroit Tigers.

The City of Lakeland offers an exceptional quality of life. A firm commitment to downtown development, redevelopment, historic preservation, cultural amenities, and a exceptional business-friendly environment has helped Lakeland to thrive for 125 years.

Growth and progress exemplify our City all the while maintaining a sense of history and a hometown feel.

Over 8.6 million people within a 100-mile radius 32 miles from Tampa 54 miles from Orlando Midway between Key West and the Georgia state line Two International airports within an hour's drive Located on Interstate 4 in the middle of Florida's High Tech Corridor.

Located in Polk County, the eighth largest County in the state.

Polk County boasts over 550 lakes and 90 minute drives to beaches on both coasts.

The Central Florida Development Council estimates that 1.5 million tourists visit Polk County each year.

Lakeland is a great place to do business and a wonderful place to live, work and raise a family.

LAKELAND ,FL

Table of Contents Economic & Demographic Snapshot............................................................................................................. 4 Population .............................................................................................................................................................. 5 Workforce Development .................................................................................................................................. 7 Industry Sectors.................................................................................................................................................... 8 Major Employers................................................................................................................................................... 9 Wages & Income.................................................................................................................................................10 Taxes ...................................................................................................................................................................... 11 Education.............................................................................................................................................................. 13 Economic Incentives and Redevelopment .............................................................................................. 14 Housing ................................................................................................................................................................ 16 Construction and Development................................................................................................................... 17

CNNMoney.com Ranked Lakeland 9th on their list of Top 10 Turnaround towns for 2012.

LAKELAND 2

Economic & Demographic Snapshot POPULATION

Source

City of Lakeland Population (2011)

97,690

BEBR

Lakeland Electric Service Area (2011)

254,283

Lakeland Electric

Polk County Population (2011)

604,792

BEBR

18,905,048

BEBR

State of Florida Population (2011)

CITY OF LAKELAND

City of Lakeland Historical Size and Population

Source

Year

Population Size in Square Miles

Total Number of Households (2011 Est.)

38,248

Claritas

1960

41,350 16.78

Average Household Income (2011 Est.)

$51,760

Claritas

1970

42,803 17.17

Median Household Income (2011 Est.)

$38,430

Claritas

1980

47,406 20.59

Lakeland Per Capita Buying Income (2011 Est.)

$21,973

Claritas

1990

70,576 44.23

1995

74,626 50.55

Lakeland Labor Force (2011)

42,958

AWI

2000

78,452 51.91

Employed (2011)

38,199

AWI

2001

82,942 54.15

4,759

AWI

2002

87,150 67.54

Lakeland Unemployment (2011)

11.10%

AWI

2003

88,741 67.60

Lakeland Private Employment (2011)

37,483

BLS

2004

89,731 69.94

Mid Florida Regional MLS

2005

90,851 71.38

Unemployed (2011)

Average Home Sales Price (2011)

$106,090

Single Family Permits (2011)

115

City of Lakeland

2006

91,623 72.17

Multi-Family Permits (2011)

6

City of Lakeland

2007

93,428 73.41

890,718

City of Lakeland

2008

93,508 74.33

Commercial Square Feet Permitted (2011)

11,522

City of Lakeland

2009

94,163 74.40

Retail Square Feet Permitted (2011)

50,031

City of Lakeland

2010

97,422 74.48

2011

97,690 74.62

Warehouse/Industrial Square Feet Permitted (2011)

Sources: University of Florida Bureau of Economic & Business Research (BEBR) Bureau of Labor & Statistics (BLS) Claritas Market Place 2011 Lakeland Economic Development Council (LEDC) Mid Florida Regional MLS Florida Agency for Workforce Innovation (AWI)

photo credit: Tom Hagerty

3

Population City of Lakeland Year 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Polk County & Florida

Population 74,626 78,452 82,942 87,150 88,741 89,731 90,851 91,623 93,428 93,508 94,163 97,422 97,690

Sq. Miles 50.55 51.91 54.15 67.54 67.60 69.94 71.38 72.17 73.41 74.33 74.40 74.48 74.62

1990 Population by Age 16000 14000 12000 10000 8000 6000 4000 2000 0

Under 5

5 to 14

15 to 24

Year 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Polk County 443,153 483,924 496,112 502,385 511,929 528,389 535,800 564,868 581,058 585,733 584,383 602,095 604,792

2000 Population by Age

25 to 34

35 to 44

45 to 54

Florida 14,336,202 15,982,378 16,331,739 16,674,608 17,071,508 17,561,732 17,918,227 18,349,132 18,680,367 18,807,219 18,748,925 18,801,310 18,905,048

2010 Population by Age

55 to 64

65 to 74

75 to 84

85+

2010 Population by Sex

2010 Population by Race White or Caucasian

70.80%

Male

46.90%

Black or African American

20.95%

Female

53.10%

Hispanic or Latino Other Two or more races

12.60% 3.40% 2.70%

Source: U.S. Census Bureau

Asian Native American

Lakeland has seen an 85% increase in the population of residents aged 45-54 from 1990 to 2010

1.80% .30%

Sources: U.S. Census Bureau

4

Population Metro and Non-Metro Population, 2010

Florida’s Top 25 Incorporated, 2010 City Jacksonville

821,784

Miami

399,457

Tampa

335,709

St. Petersburg

244,769

Orlando

238,300

Hialeah

224,669

Tallahassee

181,376

Ft. Lauderdale

165,521

Port St. Lucie

164,603

Pembroke Pines

154,750

Cape Coral

154,305

Hollywood

140,768

Gainesville

124,354

Miramar

122,041

Coral Springs

121,096

Clearwater

107,685

Miami Gardens

107,167

Brandon

103,483

Palm Bay

103,190

West Palm Beach

99,919

Pompano Beach

99,845

Spring Hill

98,621

Lakeland

97,422

Davie

91,992

Miami Beach

87,779

Source: United States Census 2010

Metropolitan Statistical Area

Population

Population

Miami/Ft Lauderdale/Miami Beach

5,564,635

Tampa/St. Petersburg/Clearwater

2,783,243

Orlando/Kissimmee

2,134,411

Jacksonville

1,345,596

Sarasota/Bradenton/Venice Beach

702,281

Cape Coral/Fort Myers

618,754

Lakeland

Melbourne/Titusville/Palm Bay

543,376

Daytona Beach/Ormond Beach

494,593

Pensacola

448,991

Fort Pierce/Port St. Lucie

427,107

Tallahassee

367,431

Ocala

331,298

Naples/Marco Island

321,520

Gainesville

264,275

Fort Walton Beach

180,822

Panama City

168,852

Punta Gorda

159,978

Sebastian/Vero Beach

138,028

Palm Coast Total All MSA’s Total Non-Metro Total Florida

5

5

602,095

Source: University of Florida Bureau of Economic and Business Research, Florida

95,696 17,692,982 1,108,328 18,801,310

Workforce Development Workforce Development Recent Job Growth 10-Year Job Growth Unemployment Rate Sales Taxes Income Taxes Median Household Income Per Capita Buying Income

Lakeland 0.14% 29.38% 11.10% 7.00% 0.00% $38,430 $23,685

Lakeland Annual Labor Force 44000 42000 40000 38000 !36000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Economic Development Activity 1995-2011 2011 Lakeland Unemployment

By Month 13.0% 12.5% 12.0% 11.5% 11.0% 10.5% 10.5% 9.5%

J

F

M

A

,M

J

J

A

S

O

N

D

Lakeland's Average Annual Unemployment Rate 12.0% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Year

Projects

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

32 25 18 22 20 25 27 23 20 26 23 30 29 16 14 20 15

Jobs

602 690 730 1,093 3,295 533 1,705 1,505 768 1,300 1,110 609 734 1,247 1,468 401 212

Square Feet

1,290,400 1,057,100 1,110,000 1,552,500 1,676,000 1,861,000 1,692,450 1,431,517 770,968 1,269,673 1,640,489 1,309,512 1,057,892 1,827,878 434,006 691,833 613,220

Est.Capital Investment

$ 36,770,000 $ 63,350,000 $ 20,900,000 $ 94,075,000 $ 79,250,000 $109,700,000 $ 75,400,000 $ 38,260,850 $ 15,364,555 $ 33,805,000 $ 29,932,600 $ 38,115,337 $ 44,083,425 $ 180,350,000 $ 70,671,672 $ 35,714,000 $ 13,007,000

Source: Lakeland Economic Development Council (LEDC)

“Where The Jobs Will Be in 2012�

In December of 2011 Forbes listed the Lakeland MSA as having the best job outlook in the nation for 2012.

The national employment survey completed by the Manpower Group, states that 17% of Lakeland employers plan to add employees in the 1st quarter of 2012.

Industry Sectors Lakeland MSA – Total Nonagricultural Employment (December 2011) Goods Producing Construction, Mining & Natural Resources Manufacturing Service Providing Wholesale Trade Retail Trade Transportation, Warehousing & Utilities Information Financial Activities Professional & Business Services Education & Health Services Leisure & Hospitality Other Services Government

23,800 9,900 13,900

12.3% 5.1% 7.2%

169,600 8,400 25,600 11,800 1,700 10,700 28,000 29,400 16,800 8,000 29,200

87.7% 4.3% 13.2% 6.1% 0.9% 5.5% 14.5% 15.2% 8.7% 4.1% 15.1%

5%

15%

4%

7%

4% 9%

13% 6%

15% 6%

1%

15%

Source: Florida Agency for Workforce Innovation

Industry Sector Comparison 1. Construction, Mining & Natural Resources 2. Manufacturing 3. Wholesale Trade 4. Retail Trade 5. Transportation Warehouse & Utilities 6. Information

7. Financial Activities 8. Prof. & Business Services 9. Education & Health Services 10. Leisure & Hospitality 11. Other Services 12. Government

35000 30000 25000 20000 15000 10000 5000 0

1

2

3

4

5

6

1990 Industry Sector

7

8

9

10

11

2011 Industry Sector

Employment opportunities within Lakeland’s Education and Health Services and Professional Business industries have nearly doubled over the past 20 years.

12

Major Employers Employer Publix Super Markets, Inc Lakeland Regional Medical Center GEICO Watson Clinic GC Services Rooms To Go Furniture Liberty Mutual Saddle Creek Corporation Stryker Sustainability Solutions Sykes

Business Supermarkets (stores & warehouse) Hospital Insurance Medical Clinic Teleservices Distributor Insurance Trucking & Logistics Healthcare Teleservices

Number of Jobs 6,644 4,540 1,850 1,500 1,000 900 654 625 600 500

Manufacturing Publix Super Markets, Inc. Key Safety Systems McDonald Construction Corp.

Country Hearth Bread Pepperidge Farm The Ledger Publishing Company Tampa Maid Foods Carpenter Company JBT Corporation Keymark

Deli, Dairy & Bakery Air Bag Manufacturing Construction Bakery Bakery Newspaper Shrimp Processing Insulation Processing Machinery Aluminum Extrusions

1,419 580 400 340 313 284 260 235 190 175

Government City of Lakeland

Government

2,600

Headquartered in Lakeland, Publix Supermarkets is adding to their 3 million square feet of manufacturing and warehouse space with the construction of this 562,000 square foot expansion of their County Line Road “low velocity� warehouse.

8

Wages & Income Average Annual Wage

Industry

Annual Wage

Private Industry

$37,921

Public Administration

$41,406

35,000

Agriculture, Forestry & Fishing

$22,044

30,000

Construction

$40,016

25,000

Manufacturing

$39,400

Wholesale Trade

$43,891

Retail Trade

$28,160

2001 $28,890

2007 $35,568

Transportation & Warehousing

$38,610

2002 $29,505

2008 $36,920

Utilities

$51,370

2003 $30,277

2009 $37,356

Information

$38,167

2004 $31,387

2010 $37,939

Finance & Insurance

$44,191

2005 $31,928

2011 $37,185

Real Estate & Rental Leasing

$35,263

2006 $33,592

Professional, Scientific Services

$55,853

Management of Enterprises

$53,599

Administration & Waste Services

$34,203

Educational Services

$36,412

Healthcare & Social Services

$42,781

Arts & Entertainment & Recreation

$28,684

Accommodations & Food Services

$20,156

Other Services

$34,545

40,000

20,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Source: Florida Research & Economic Database

Per Capita Income Year

Source: Florida Research & Economic Database 2011

The Tampa Bay Business Journal reported in December of 2011 that the average annual compensation for high skill jobs in the Lakeland MSA had risen to $46,318, marking a 1% from the previous year.

Lakeland

Florida

2001 $24,898

$29,804

2002 $25,106

$30,462

2003 $26,004

$31,242

2004 $27,965

$33,463

2005 $29,833

$35,498

2006 $31,090

$37,996

2007 $31,838

$39,256

2008 $32,433

$39,958

2009 $31,511

$37,387

2010 $31,998

$38,222

Source: Bureau of Economic Analysis(BEA) Per Capita Income by MSA

9

Tax Information General Information The tax laws in Florida are advantageous both to industry and to individuals. There is no state personal income tax, no state ad valorem tax on real or tangible personal property, no inventory tax and no inheritance tax. This is indicative of Florida’s favorable tax climate – which is lower than most other southeastern states.

Ad valorem rates in Lakeland and Polk County compare favorably with taxes in any other section of the United States.

The City of Lakeland has one of the lowest operating millages in the state at 4.1644.

State Sales Tax Florida has a 6% state sales tax. Exemptions include food and drugs, machinery and equipment for new businesses, and research and development equipment manufactured and used by a firm doing the research and development.

Lakeland/Polk County has an additional 1% local sales tax as of January 2005.

Corporate Income Tax Florida corporate income tax liability is computed using federal taxable income, modified by certain Florida adjustments, to determine adjusted federal income. A corporation doing business within Florida may apportion its total income. Adjusted federal income is apportioned to Florida using a three-factor formula. The formula is a weighted average, designating 25 percent each to factors for property and payroll, and 50 percent to sales.

Non-business income allocated to Florida is added to the Florida portion of adjusted federal income. An exemption of up to $5,000 is subtracted to arrive at Florida net income. Tax is computed by multiplying Florida net income by 5.5 percent.

Communications Tax Businesses providing communications services are required to register to collect and remit communications services tax. Communications services include telecommunications, cable, direct-to-home satellite, and related services. This definition encompasses voice, data, audio, video, or any other information or signals, including cable services that are transmitted by any medium.

Homestead Exemption On January 29, 2008 Florida voters approved an amendment to the Constitution allowing for a statewide reform of Florida’s existing Homestead Exemption criteria. This reform, designed by the Florida Legislature to provide property tax relief to homestead-exempted homeowners, owners of second homes, rental property owners and business owners provides four significant changes to the previous exemption.

Expanded Homestead Exemption: Increase the current $25,000 Homestead Exemption by an additional $25,000 except on school board taxes.

Portability: Allows Homeowners to transfer up to $500,000 of their Save Our Homes Assessment Limitation benefit to the new homestead.

Cap on Non-Homestead Property: The assessed value for all other properties without a homestead exemption will be limited to a maximum of 10% a year.

Tangible Personal Property Exemption: Businesses will be eligible for a $25,000 exemption on equipment such as computers, office furniture and fixtures.

In 2012 the tax Foundation ranked Florida as 5th best state on their annual State Business Tax Climate Index.

10

Tax Information Statewide 2011 Operating Millage Rate

County Wide 2011 Millage Rates Polk County

6.8665

Bradenton

5.2002

School Board

7.67

Clearwater

5.155

*Parks MSTU

0.4219

Daytona Beach

6.2598

*Library MSTU

0.2109

Ft. Myers

8.4

Ft. Lauderdale

4.1193

Auburndale

3.8393

Gainesville

4.2544

Bartow

3.9962

Hollywood

7.4479

Davenport

6.99

Kissimmee

4.6253

Dundee

7.6495

Lakeland

4.1644

Eagle Lake

7.6516

Miami

7.571

Fort Meade

3.3509

Orlando

5.65

Frostproof

7.8209

Pensacola

4.2895

Haines City

6.99

Plant City

4.7157

Highland Park

9.9759

Sarasota

2.9249

Hillcrest Heights

0.31

St. Petersburg

5.9125

Lake Alfred

6.99

Tallahassee

3.7

Lake Hamilton

7.593

Tampa

5.7326

Lakeland

4.1644

West Palm Beach

8.0739

Lake Wales

7.9998

Winter Haven

5.79

Mulberry

8.9

Polk City

8.6547

Tax Summary

Winter Haven

5.79

Corporate Income Tax

5.50%

Sales Tax

6.00%

Local Option Sales Tax

1.00%

Gross Receipt Tax

2.37%

Unemployment Tax (varies)

2.70%

Communication Services Tax

7.03%

* MSTU’s are paid by all residential taxpayers of unincorporated Polk County

Intangible Tax - 1 mill per $1000 of assessed valuation

11

Education Public School Graduation Rates School Harrison Lakeland George Jenkins McKeel Academy Lake Gibson Kathleen PCC Collegiate Tenoroc Lakeland MSA Polk County Florida

2011/10 100.00% 87.50% 87.50% 95.10% 79.20% 69.50% 98.20% 71.60% 83.87% 73.90% 80.10%

2010/09 100.00% 87.27% 90.63% 93.26% 86.40% 72.51% 96.85% 73.90% 86.38% 73.24% 79.00%

2009/08 100.00% 84.50% 86.20% 96.20% 82.30% 70.00% 98.80% N/A 82.70% 71.60% 78.60%

Educational Attainment in Lakeland Population Age 25 + (Polk County) Total # High school graduate 21,119 Some college, no degree 12,708 Associates degree 5,108 Bachelor’s degree 9,095 Graduate degree 4,859

2007/08 100.00% 88.70% 87.70% 100.00% 83.90% 71.70% 97.60% N/A 86.00% 73.60% 75.40%

2007/06 98.50% 82.00% 90.80% 97.20% 71.60% 75.10% 98.00% N/A 83.17% 68.80% 71.00%

2006/05 100.00% 81.60% 88.80% 99.00% 82.40% 76.80% 100.00% N/A 85.50% 70.50% 71.90%

2005/04 100.00% 89.80% 88.40% 93.30% 81.50% 71.10% 98.00% N/A 84.90% 71.60% 71.60%

% 33.9 20.4 8.2 14.6 7.8

Florida Southern College was ranked as one of America’s Most Beautiful College Campuses by Forbes in September of 2011.

Public/Private Colleges and Universities Southeastern University Florida Southern College University of South Florida Webster University Polk State College Proprietary Colleges and Universities Everest University (formerly FMU) Keiser University Trade and Technical Schools Florida Career Institute Travis Technical Center

Estimated Enrollment 3,069 2,429 4,229 200 11,336

845 1200 155 1,200

Florida Southern College and Southeastern University were ranked #2 and #47 respectfully in the 2012 U.S. News and World Report regional ranking for Colleges in the South.

12

Economic Incentives and Redevelopment GRIFFIN ROAD

ER LAKE PARK

BELLA VISTA

DRIVE

S. FLORIDA AVENUE

ORANGE ST.

SIKES BLVD.

HOLLINGSWORTH

ARIANA STREET

SUCCESS AVE.

ARIANA STREET

LAKE HUNTER

LAKE MORTON

INGRAHAM AVE.

W. LIME ST.

LAKE PARKER AVE.

LAKE MIRROR

.

MON ST

LAKE E. LE BEULAH

LAKE PARKER

E. MEMORIAL BLVD.

LAKE WIRE

W. MAIN ST.

S BLVD. GEORGE JENKIN

LAKELAND HILLS BLVD.

LAKE BONNET

GARY RD. E. MAIN ST. LA KE BO NN Y

LAKE HOLLINGSWORTH

Additional Economic Development Incentives Qualified Industry Tax Refund Program (QTI) Quick Response Training Program (QRT) Economic Development Transportation Fund (Road Fund) Economic Development Impact Fee Mitigation (EDIFM) Incumbent Worker Training Program (IWT) Urban Job Tax Credit

Sales Tax Refund for Building Materials A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in the Enterprise Zone. Both businesses and residents are eligible for this incentive that refunds up to $5,000 of the sales tax paid for building materials. Limit one refund per parcel of property.

Sales Tax Refund for Business Machinery and Equipment A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in the Enterprise Zone for at least 3 years. This incentive refunds up to $5,000 of the sales tax paid for purchases of at least $5,000 for machinery and equipment used in the Enterprise Zone.

Community Contributions Tax Credit Program Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in the Enterprise Zone to be eligible for this credit.

For more detailed information about these incentives visit the City’s website at www.lakelandgov.net or Enterprise Florida at www.floridaenterprisezones.com.

13

MARTIN LUTHER KING JR. BLVD.

W. MEMORIAL BLVD.

WABASH AVENUE

Enterprise Zone Property Tax Credit (Corporate Income Tax) New or expanded businesses located within the Enterprise Zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.

LINCOLN AVENUE

1OTH ST. WABASH AVENUE

Enterprise Zone Jobs Tax Credit (Sales and Use Tax) Allows a business located within the Enterprise Zone to take a sales and use tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.

RO AD

PROVIDENCE ROAD

KA TH LE EN

Financial Incentives offered in Lakeland’s Enterprise Zone Enterprise Zone Jobs Tax Credit (Corporate Income Tax) Allows a business located within the Enterprise Zone to take a corporate income tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.

N. FLORIDA AVENUE

Florida’s Enterprise Zone Program was created to provide the necessary means to assist local communities, their residents, and the private sector in creating greater economic activity in distressed areas and to provide jobs for residents of such areas. An Enterprise Zone is a specific geographic area targeted for economic revitalization. Designed to encourage economic growth and investments in the City’s urban core, the program offers tax advantages and incentives to businesses and property owners located within the Enterprise Zone.

Redevelopment and Economic Incentives Lakeland Community Redevelopment Agency The City of Lakeland is on a course of constant change and improvement. Many of the major changes occurring within the “core” of our city are as a direct result of activities of the Lakeland Community Redevelopment Agency (CRA). The CRA works in concert with the City of Lakeland to rebuild and revitalize many of our more challenged neighborhoods. The goal of the CRA is to continue to build and strengthen the heart of our city by providing the appropriate infrastructure and incentives for new and renewed property investment.

Overview The City of Lakeland has four CRA target areas, or CRA districts. They are Downtown which was established in 1977, Dixieland and Mid Town which were created in 2001, and Williams which was created in 2002. Each of these areas are dependent taxing districts established by the local government for the purpose of carrying out redevelopment activities that include reducing or eliminating blight, improving the tax base, and encouraging public and private investments in the CRA. Organization The City Commission is the official Community Redevelopment Agency for Lakeland and each specific redevelopment area operates under the leadership of an Advisory Board.

ILL

YH

EP

SLE

RD

R

ILL D

LL H

E LAKE PARKER DR

MA

RD

BELLA VISTA ST

W TENTH ST

TENTH ST

EN

LE RD

N WABASH AV

LAKE PARKER

SOUTH BLVD

LAKE PARKER AV

LAKE BONNY PALMETTO ST

MCDONALD ST

ARIANA ST HARDEN BLVD

LAKE HOLLINGSWORTH

Please visit www.ldda.org and www.lakelandcra.net for additional information.

NEW JERSEY RD

WABASH AV

INGRAHAM AV

N FLORIDA AV MISSOURI AV FLORIDA AV

VD

BL

LAKE MORTON

98

ES

SIK

BEACON RD

14

LIME ST

ST

US

Dixieland CRA

ORANGE ST LIME

LAKE HUNTER

W HIGHLAND ST / GREENWOOD ST

E MAIN ST

HOLLINGSWORTH RD

S WABASH AV

OLIVE ST

Dixieland

RD

IN ST

LAKE BEULAH

GARY RD

LAKE MIRROR

W MA

S BLVD

JENKIN

OW

GEORGE

LAKE WIRE

PARKER ST

RT BA

LAKE BONNET

MASSACHUSETTS AV

MEMORIAL BLVD

Downtown CRA

Downtown

GRANADA ST

BELLA VISTA ST

FIFTH ST

Midtown CRA

Mid Town

(LAKELAND HILLS BLVD)

EN

PROVIDENCE RD

LE

D

LR

HIL

MASSACHUSETTS AV

MA

TH

MARTIN LUTHER KING BLVD

LL

KA

TH

CRA projects are funded by "tax increment financing"which works as follows: the value of real property in a redevelopment area is determined on a fixed date; as the value of the real property appreciates, the tax revenue on the appreciated portion of the value (the increment) is set aside for CRA projects; the City and County continue to collect the tax revenue on the original real property value. Most programs are designed to leverage tax increment by encouraging private developers to invest in CRA districts.

CR 582 (GRIFFIN RD)

KA

Projects and Funding CRA projects must serve a public purpose and must address concerns raised in the adopted redevelopment plans for each area. Possible CRA programs include street and streetscape improvements, park improvements, development of infill housing, recruitment of new businesses and partnership with job-training and placement services.

N FLORIDA AV

ROBSON ST

SYLVESTER RD

Housing Housing in Lakeland Median Home Age

34 Years

Average Sale Price

$106,090

Home Appreciation

-12.16%

Home Ownership Rate

47.46%

Renter Occupied

39.77%

Vacancy Rate

12.77%

Average Monthly Rent

$798

Millage Rate

4.1644

Existing Home Sales in Lakeland Year

Units Sold

Average Price

2001

2,561

$104,546

2002

2,629

$108,306

2003

2,883

$119,162

2004

2,938

$133,440

2005

3,676

$175,224

2006

3,371

$196,290

2007

2,233

$192,842

2008

1,857

$160,372

2009

2,357

$126,568

2010

2,421

$115,075

2011

2,456

$106,090

Source: Mid Florida Regional MLS

Housing Sales In Lakeland 4000 3500 3000 2500 2000 1500 1000 500 0

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Housing Prices in Lakeland $250,000 $200,000 $150,000

Ranked #1 Hot Spot for Global Homebuyers by Inman News.com in 2012

$100,000 $50,000 $0

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Average Annual Sales Price

15

Construction & Development Single Family Permits Year

Permits

Permit Valuation

2001

183

$ 21,043,478

2002

220

$ 28,611,809

2003

257

$ 34,200,806

1400

2004

380

$ 49,241,780

1000

2005

544

$179,996,957

800

2006

544

$ 99,101,767

400

2007

458

$107,385,621

2008

252

$ 55,438,488

2009

144

$ 29,771,733

2010

142

$ 30,467,000

2011

115

$ 25,139,223

Residential Construction Units 1200

600 200 0

2001

2002

2003

2004

2005

2006

2007

Single Family

2008

2009

2010

2011

Multi-Family

Commercial/Industrial Square Foot Permitted Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Warehouse/Industrial 508,656 139,373 1,537,656 456,816 1,047,852 926,792 24,446 76,000 103,482 890,718

Commercial Office 84,393 113,486 122,057 81,231 190,472 92,825 103,447 101,517 81,857 11,522

Commercial Retail 184,094 155,607 543,717 447,596 443,846 324,051 97,557 3,215 18,046 50,031

In November of 2011 Realtor.com listed Lakeland as 7th on their national list of cities that are leading towards a general real estate recovery and a stabilization of the housing sector.

Total Permit Valuation $600,000,000 $500,000,000 $400,000,000 $300,000,000 $200,000,000 $100,000,000 $0

2001

2002

2003

2004

2005

16

2006

2007

2008

2009

2010

2011